2/3 of Swiss banks are practically dead –
Further 20% of workforce will go next 3years –
money laundering does not work anymore and clients leave the country
that goes from UBS to CS and local banks
The ZKB had an opportunity today to show that Swiss Banking is the future. You don’t do it. Net profit minus 5 Percent in the first half of the year.
The Same as everywhere: Raiffeisen minus 15 percent, UBS and CS starve. And in the case of the private banks, suggests a study Alarm: mass extinction.
How bad will’? An Insider expects a reduction of 20’000 Jobs over the next 3 years – at least. On the basis of around 100’000 jobs in Banking, that would be a dramatic slump.
This, after the number of jobs in the Swiss banking showed since the peak over a decade ago down constantly.
Once the banking 120’000 employees are counted. Now it’s in the direction of 80’000. The music plays elsewhere; the insurance companies are booming.
The Consideration of the Insiders: The Switzerland as a financial centre was large then the funds from abroad. Zurich, thanks to the Germans, Geneva thanks to the French, in Lugano, thanks to the Italians.
Now everyone’s on the run. The 50-year EU-citizens have no interest in a Moneybox in Switzerland. Without banking secrecy, no privacy, only fees and soon minus interest?
Thank you, but no.
So billions from flowing into the countries of origin. This has been driven by the tax hunter. Germany, Italy, France – they all go to Switzerland. First UBS, then the Rest.